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By Clare Duffy and Rishi Iyengar, CNN Business Even Amazon and Apple are grappling with the global supply chain crunch. Both companies reported revenue results on Thursday that fell short of Wall Street analysts’ expectations and warned that supply chain issues could weigh on business in the December quarter. Amazon missed Wall Street projections for
Continue ReadingCNN, CNNBUSINESS By Clare Duffy and Rishi Iyengar, CNN Business Even Amazon and Apple are grappling with the global supply chain crunch. Both companies reported revenue results on Thursday that fell short of Wall Street analysts’ expectations and warned that supply chain issues could weigh on business in the December quarter. Amazon missed Wall Street
Continue ReadingBy Amir Vera, CNN News of Facebook’s new company name, Meta, quickly attracted the scorn of the internet. “The only meta we acknowledge,” tweeted writer Mitchell Clark, who posted a picture of former NBA player Meta World Peace (formerly known as Ron Artest). “‘Meta’ is short for ‘I meta girl in high school who I
Continue ReadingBy Matt Egan, CNN In the wake of the revelations in the Facebook Papers, Patagonia CEO Ryan Gellert on Thursday called for companies to join the brand in pressuring Facebook to fix its platforms. “We believe Facebook has a responsibility to make sure its products do no harm, and until they do, Patagonia will continue
Continue ReadingCNN By Anna Bahney, CNN Business Waiting for the wild housing market to calm down before buying a place? Don’t bother, said Barbara Corcoran, the founder of the Corcoran Group real estate firm and star of “Shark Tank,” during a CNN Business Foreseeable Future discussion on the current housing market madness. “I don’t think it
Continue ReadingBy Anna Bahney, CNN Business Waiting for the wild housing market to calm down before buying a place? Don’t bother, said Barbara Corcoran, the founder of the Corcoran Group real estate firm and star of “Shark Tank,” during a CNN Business Foreseeable Future discussion on the current housing market madness. “I don’t think it is
Continue ReadingBy Rishi Iyengar, CNN Business Activision Blizzard CEO Bobby Kotick has asked the company’s board to slash his pay to the “lowest amount California law will allow” until the gaming company fixes its issues with gender discrimination and harassment, he said in a letter to employees on Thursday. If the board approves, Kotick will be
Continue ReadingCNN, CNNBUSINESS By Clare Duffy, CNN Business Ohio Attorney General Dave Yost on Monday announced that he is suing Meta, the social media giant formerly known as Facebook, based on revelations from whistleblower Frances Haugen and the trove of internal company documents she leaked. The securities lawsuit, filed on behalf of the Ohio Public Employees
Continue ReadingBy Matt Egan, CNN Business Citigroup told staff Thursday that US-based employees will be required to get fully vaccinated if they want to stay employed. In a post on LinkedIn, Citi’s head of human resources Sara Wechter partially cited the Biden administration’s vaccine order for federal contractors, noting the US government is a “large and
Continue ReadingBy Oliver Darcy, CNN Business Is Rupert Murdoch a 1/6 or election truther? The conservative media mogul hasn’t weighed in directly on the conspiracy that the 2020 election was stolen or the insurrection that took place at the US Capitol earlier this year, and his spokesperson didn’t respond to a request for comment Thursday morning
Continue ReadingBy Paul R. La Monica, CNN Business Fintech giants Square and PayPal are taking Main Street by storm. More consumers, especially younger ones, are using services like Square’s Cash App and PayPal’s Venmo for mobile payments. But banks and other traditional financial services firms are fighting back — and investors have taken notice. Goldman Sachs
Continue ReadingBy Matt McFarland, CNN Business Jennifer Homendy, chair of the National Transportation Safety Board (NTSB), said Tuesday that the recent backlash from Tesla’s fanbase towards a newly-appointed federal safety advisor is a deliberate attempt to shift away from safety questions about the automaker’s technology. Tesla’s fans and its CEO Elon Musk have spoken out against
Continue ReadingBy Samantha Murphy Kelly, CNN Business Facebook is changing its company name as it shifts its focus to the “metaverse” and confronts wide-ranging scrutiny of the real-world harms from its various platforms after a whistleblower leaked hundreds of internal documents. Founder Mark Zuckerberg said Thursday that Facebook will change its corporate name to Meta, effectively
Continue ReadingBy Allison Morrow, CNN Business It is a curse of the modern age that technology has rendered us incapable of experiencing beauty in real time — all of our ephemeral, sensual experiences must be pinned down in a digital ledger, easily searchable from our phones. It is not sufficient to be present in our joy;
Continue ReadingBy Matt Egan, CNN Business The framework on President Joe Biden’s $1.75 trillion economic and climate agenda calls for paying for the ambitious agenda in part by imposing a surcharge on corporate stock buybacks. The outline for the spending bill, announced by the White House on Thursday, promises that the Build Back Better framework is
Continue ReadingBy Alicia Wallace, CNN Business When members of the cannabis industry descended upon Las Vegas last week for the biggest trade show in the business, there was something stirring in the air. It wasn’t the aroma of a freshly lit joint, but rather a sense that everything seems to be coming up roses for the
Continue ReadingCNN By Alicia Wallace, CNN Business When members of the cannabis industry descended upon Las Vegas last week for the biggest trade show in the business, there was something stirring in the air. It wasn’t the aroma of a freshly lit joint, but rather a sense that everything seems to be coming up roses for
Continue ReadingBy Chris Isidore and Virginia Langmaid, CNN Business A large number of unvaccinated workers say they’ll quit their jobs if their employers follow upcoming federal rules to battle the Covid-19 pandemic. A survey by the Kaiser Family Foundation, a think tank concentrating on health issues, found 37% of unvaccinated workers say they will quit their
Continue ReadingCNN, CNNBUSINESS By Anneken Tappe, CNN Business This summer, the American economic recovery hit a roadblock. The US economy grew at an annualized rate of only 2% in the third quarter, the Bureau of Economic Analysis reported Thursday. The highly infectious Delta variant of the coronavirus, supply chain chaos, worker shortages, sluggish jobs numbers and
Continue ReadingBy Anneken Tappe, CNN Business This summer, the American economic recovery hit a roadblock. The US economy grew at an annualized rate of only 2% in the third quarter, the Bureau of Economic Analysis reported Thursday. The highly infectious Delta variant of the coronavirus, supply chain chaos, worker shortages, sluggish jobs numbers and higher prices
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